HYDN Prevent: A Real-Time Fraud Prevention Solution for the Blockchain

With over $3 billion worth of hacks in 2022, fraud on the blockchain has reached epidemic proportions. This is where HYDN Prevent steps in, providing a real-time fraud prevention solution specifically designed for DApps.

HYDN Prevent is the only product of its kind, designed to stop blockchain attacks before they happen. It reviews every transaction that interacts with your DApp’s smart contracts, identifying and informing you of malicious ones. This allows your DApp to decide whether to accept or reject the transaction, ensuring your assets remain secure and your reputation intact.

The product boasts a comprehensive suite of detectors covering an extensive array of common attack vectors such as Reentrancy Attacks, Oracle Manipulation, Phishing Attempts, Contract Impersonation, Role Changes, and more. It is capable of detecting and thwarting almost all attacks in real-time, potentially saving your DApp millions.

In addition to HYDN Prevent, HYDN also monitors all transactions and runs detection algorithms across 25 chains 24/7, 365 days a year. This enables us to learn more about, and detect changes in the types and nature of threats over time, and build new detectors to further enhance HYDN Prevent’s performance.

It was through this 24/7 monitoring that we were able to identify a critical vulnerability in SushiSwap’s contracts. Following this we worked together with the Sushi team to rescue over $600k in user assets and help create a fix to protect users.

Why Real-Time Fraud Prevention is Key for the Blockchain

The blockchain, by its very nature, is a decentralized system. This means that once a transaction is made, it cannot be reversed. This irreversible nature of blockchain transactions makes real-time fraud prevention crucial, but also complex.

HYDN Prevent offers real-time analysis, simulating transactions to deliver automated decisions in milliseconds without impacting your user journey. It combines machine learning, rules, and graph networks to stop even the most sophisticated attacks. This advanced protection is constantly evolving, analyzing thousands of transactions every day to reduce false positives and ensure complete security.

DApps Most In Need of Real Time Fraud Prevention

The DApps most in need of HYDN Prevent primarily encompasses three segments: DeFi platforms, NFT platforms, and Bridges.

DeFi Platforms: DeFi is a huge sector of blockchain, generating over $850 billion in trading in the past year across platforms like Uniswap, Sushi, and PancakeSwap. With a staggering 167% growth observed in March 2023 compared to December 2022, the susceptibility of DeFi platforms to attacks cannot be understated. HYDN Prevent is committed to securing over $9 billion worth of assets currently at rest in DApps across things such as Staking and Liquidity Provision.

NFT Platforms: This category includes prominent NFT marketplaces and platforms offering NFT lending, staking, and borrowing services. Given the prevalence of scams and phishing attempts in the NFT sector, protection is vital, particularly for inexperienced users.

Bridges: Due to the intricate nature of transactions, bridge platforms pose high-risk scenarios as users transfer assets across chains with varying security protocols. With two of the most significant hacks in the past year hitting Bridges and accounting for a loss of $912 million, the need for enhanced security is evident.

Becoming a Launch Partner with HYDN Prevent

HYDN Prevent is set to launch in Q2 2023, and we are currently inviting interested parties to sign up as launch partners. Launch partners will benefit from a free trial period and a quick and easy 5-minute implementation process.

By becoming a launch partner, you can protect your assets and reputation, make hacks a thing of the past, and focus on what you do best. Moreover, implementing real-time fraud prevention solution like HYDN Prevent can enhance trust, improve transparency, and demonstrate your commitment to maintaining a secure and compliant platform, which may help you adapt more easily to future regulatory changes.

For more information on HYDN Prevent pricing and to become a launch partner, you can contact us at contact@hydnsec.com, message us on Telegram, or by filling out the Contact Form on our site.

Whether you’re a DeFi platform, an NFT marketplace, or a bridge service, HYDN Prevent provides the real-time protection you need to safeguard your operations and your users.